Tuesday, April 7, 2015

Eurozone PMI rose ahead in march to 54.2.

Eurozone business activity powered ahead in March, with eurozone services PMI rising to 54.2 from 53.7 in February, while the composite figure increased to an 11-month high of 54 from 53.3. "Ireland and Spain continued to lead the charge, backed up by a fast-improving German economy," says Markit, but "rates of expansion in Italy and France were modest in comparison." The PMIs indicate Q1 GDP growth of 0.3%, although "the pace of expansion looks set to gather pace." The euro was -0.6% at $1.0853 at the time of writing.